The Devils don’t have long until they have to make room for Patrik Elias and Brendan Morrison now that the two have agreed to contracts, as reported in yesterday’s Post.

While GM Lou Lamoriello was implying yesterday that he can wait until the team deems Morrison and Elias ready to play before making the moves that would adjust his 23-man roster, he doesn’t have carte blanche.

The NHL-NHLPA Collective Bargaining Agreement stipulates that Lamoriello has five business days from “the execution or making of the agreement,” to file the contracts with the league and union. At that time, he would have to clear two spots on his roster, not counting Denis Pederson’s current IR status, which may be finished by then. A big trade is the scenario expected in the unsettled – for several reasons – Devils’ locker room.

Since the Devils yesterday issued a press statement entitled “Devils Agree to Terms with Elias & Morrison,” which attributed the announcement to Lamoriello, it might be difficult for Lamoriello to wait past next Monday to make room for the two. The Post has learned that the team has agreed to begin paying each player from yesterday, and arranged for insurance to cover the gap.

Both Morrison and Elias yesterday said they believed they will be ready to play this weekend, when the Devils open the Hurricanes’ new building in Raleigh Friday or when they visit the Flyers Saturday.

Lamoriello can either make trades that create roster space, or attempt to demote players. Sergei Nemchinov, who passed through the waiver draft when Devil exposure ended with the selection of two players, and rookies Scott Gomez and Brian Rafalski are the only players exempt from waivers. Any other player placed on waivers would very likely be claimed by another team.

“One of the things that will NOT happen, is that I will NOT disrupt this hockey team right now by reducing two roster spots,” Lamoriello said. “We certainly have some thoughts. We’ll be addressing those shortly.”

An opposing team hoping to grab one of the Devils on waivers might raise the issue with the NHL, which may or may not press the matter with Lamoriello.

Elias and Morrison are expected to report for practice today, having agreed to terms Sunday, and confirming their intentions in a face-to-face meeting with Lamoriello yesterday. That meeting was followed by the Devils’ announcement, confirming yesterday’s story, and physicals for both players. Lamoriello indicated that neither player should assume a spot in the lineup.

“It’s really their jobs to take a job from one of the players who are here,” Lamoriello said.

Both players were politic yesterday after agreeing to their deals.

“I’m feeling like I want to get back on the ice,” Morrison said. “I try not to look at it as a win-lose situation.”

Morrison is believed to have accepted a one-year contract worth some $500G, taking low salary in order to have the right to salary arbitration next summer. Morrison earned base salaries of $400G and $450G over the past two years, with signing bonuses of $250G each year. He also received another $150G in games-played bonuses last season when he finished second among rookies with 46 points, despite only limited ice time.

Elias is believed to have accepted a three-year deal totaling $2.35 million, including reachable bonuses. Elias is to receive $725G this season, $775G next season and $850G in the final year. Elias earned $325G last season, an extra year automatically added to his entry-level contract because he played only one NHL game in 1995-96 and 17 in 1996-97. He also earned $60G in games-played bonuses last year.

Asked if he would have done the same thing all over again regarding his holdout, Elias did not hedge.

“Sure I would,” Elias said.

In an intriguing “coincidence,” Jay Pandolfo, John Madden and Scott Gomez did not skate in practice yesterday, but Lamoriello insisted those absences were unrelated to his roster crunch. Robbie Ftorek dismissed the absences as sickness and soreness, and said he expects all three of those absentees in the lineup tomorrow when St. Louis visits the Meadowlands. *Ken Daneyko took the classy approach yesterday to being scratched by Robbie Ftorek Saturday from what would have been his 999th game. “It’s over and done with,” Daneyko said. “The game isn’t about Ken Daneyko. It’s about winning and losing. I’m in a good frame of mind.” Ftorek indicated that Daneyko will be in the lineup tomorrow.